King of Day Traders -I

Day trading differs slightly from other styles of trading in that positions are almost never held overnight or when the market being traded is closed.Day trading is not easy, but spending enough time and practicing enough will earn you a large amount of income.Once you master being a day trader, the profits will start to come in. Many people who start to day trade will jump in for real money right away, take a big loss because they never knew what they were doing, and just give up. This is one of the worst things you can do, especially considering how much money you can make in this market!Have patience, practice, and study this market and you should have no problem making thousands and thousands of dollars.
The most successful day traders out there specialize in only a small number of trades to get the most out of their money. They do not sit there and trade a hundred times a day! You will fail this way.One of the best kept secrets to day trading is many internet brokerage firms actually offer you practice accounts in which you can use to day trade as if it was real money.This will allow the novice to learn without actually risking your bankroll to do so.Remember, even before you begin day trading, you should practice for hours and hours until you are consistently profiting using "play money". Good traders respect their rules and laws of trading, when they do this the money starts to accumulate and a profit will start.

The time you have available will have a big impact on how you trade. If you are only available late at night after you've eaten and put the kids to bed, then you're most likely going to have to look at trading a market outside of your home market. For example. if you live in the USA and can only trade late at night, you might want to look at the Asian market where the time difference will work in your favor.Different markets are geared differently, and will carry different amounts of risk. If you only have a very small amount of disposable cash to get started, you probably will want to look at forex or maybe mini futures where it's possible to start small. If you have no idea about numbers or finance, stick with a simple market like stocks or forex. Options, and to some extent, futures, are more complicated and better left until when you have a better understanding of how all of this works.